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Sub No.2:-Net Profit allocation for the F.Y 2022-23 as per Bye-Law No.(40)

               Roc.No.EB01/70/TTD ECCS/2024

                     As per Audited Balance sheet of the Society for the FY 2022-23 certified by the
               District Cooperative Audit Officer, Tirupati on 30-12-2023. As per Balance Sheet of the
               Society, earned Net Profit for Rs.6,84,73,645.76 for the FY 2022-23.

                     In  pursuance  of  the  Bye-Law  No.(40),  registered  by  the  District  Cooperative
               Officer (DCO), Tirupati vide RC No.626/2023,D1, Dated 04-07-2023, the appropriation
               of profits under section 45 and Rule 36 of APCS Act & Rules1964, as detailed below.

               The society shall, subject to such limits as may be prescribed from time to time 1%
                of gross profit to Cooperative Education Fund.
               The society shall credit an amount not more than 30% of Gross Profit or 2% of Working
               Capital, whichever is less to the Administrative and Contingent Fund.

                      1)  25 % of Net Profit shall be transferred to the Reserve Fund.
                      2)  5% of Net Profit as Bad Debts Reserve.
                      3)  50% of Net Profits shall be credited towards Dividend to the members on their
                         paid-up Share Capital.
                         The balance of Net Profits shall be transferred to the following reserves.

                      4)  15% of Net Profit shall be credited to the Members Welfare Fund
                      5)  5% of Net Profit shall be deposited towards Building Fund.

               All un-disbursable and invisible profits shall be added to the Reserve Fund.

                           In  accordance  with  the  Bye-Law  No.(40),  worked  out  the  Net  Profit  for
               Rs.6,84,73,645.76, for the FY 2022-23  as detailed below:

                           Sl.No    Name of Reserve                Percentage           Amount Rs.
                           1.       Reserve Fund                         25%              1,71,18,411.44
                           2.       Bad Debts Reserve                     5%                34,23,682.28
                           3.       Dividend                             50%              3,42,36,822.88
                           4.       Members Welfare Fund                 15%              1,02,71,046.86
                           5.       Building Fund                         5%                34,23,682.30
                                          Total                          100%             6,84,73,645,76

                                        The sum of Rs. 3,42,36,822.88 towards Dividend  is worked out on paid up
               share   capital as per above table furnished  here under:


                                               Percentage on paid up      Amount Rs.
                          Sl.No
                                           Share Capital
                            1.                15.00%                         3,27,67,643.00
                            2.                15.67%                         3,42,31,264.39
                             3.               16.00%                         3,49,52,152.53








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